Hey everyone!
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Long time no see dear friends!
So what has changed from the past analysis? Price went even higher but then dumped a lot.
It went right to the 100 and 200 MA on CME. Also we have death cross of 100 MA and 200 MA on CME on Monday.
If we close below 100 MA on traditional exchanges on 1D it would be VERY bad for bulls.
Market looks very bad at current state. Volume is very low, every pump gets dumped. Really disgusting price action.
So current pump on "Iranian news" can be just another fake one and lower high in the descending channel:
From another perspective there are lots of buyers during this dump, so I assume whales do believe in the beginning of bull run before halving.
If we make a good consolidation here at least for a week and will stay above 100 MA it can be the start of another bull market. But it's too early to talk about it.
Anyway, there is lots of manipulation in this market now, lots of traps and high volatility, it's not that easy now to catch clean moves without of stops being caught.
Exercise caution and better don't use high leverage now.
Priority is short now. Invalidated if we make higher high on 1 HR timeframe.
First target is 7550-7600. The ultimate target is at the lower bound of rising channel.
Always DYOR and have profitable trades!
Good luck!
Please support this idea with likes and subscribe to get fresh updates!
Long time no see dear friends!
So what has changed from the past analysis? Price went even higher but then dumped a lot.
It went right to the 100 and 200 MA on CME. Also we have death cross of 100 MA and 200 MA on CME on Monday.
If we close below 100 MA on traditional exchanges on 1D it would be VERY bad for bulls.
Market looks very bad at current state. Volume is very low, every pump gets dumped. Really disgusting price action.
So current pump on "Iranian news" can be just another fake one and lower high in the descending channel:
From another perspective there are lots of buyers during this dump, so I assume whales do believe in the beginning of bull run before halving.
If we make a good consolidation here at least for a week and will stay above 100 MA it can be the start of another bull market. But it's too early to talk about it.
Anyway, there is lots of manipulation in this market now, lots of traps and high volatility, it's not that easy now to catch clean moves without of stops being caught.
Exercise caution and better don't use high leverage now.
Priority is short now. Invalidated if we make higher high on 1 HR timeframe.
First target is 7550-7600. The ultimate target is at the lower bound of rising channel.
Always DYOR and have profitable trades!
Good luck!
Comment:
Ok, price dumped to 7690 and then pumped to 8150. Those who closed their shorts at 7700 area had a nice profit. Those who didn't should wait for a rebounce lower and make their own decision whether to close short to break-even or expect a further decline. Always DYOR!
Comment:
close your shorts completely better. bulls are really strong